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Nov 03 - 06:55 AM

USD/JPY - Chart Points To A Bullish Extension In Coming Sessions

By Martin Miller  —  Nov 03 - 04:54 AM
  • Fourteen-day momentum remains positive, highlighting the bullish bias

  • Expectation is for further gains towards the 115.00 psychological level

  • USD/JPY found support at 113.26 last week, just below the 113.28 Fibo

  • 113.28 Fibo is a 23.6% retrace of the 108.73 to 114.69 rise

  • We are looking to get long at 113.30 in anticipation for a bull extension

  • Only a daily close under the 113.28 Fibo will weaken spot

  • USD/JPY Trader TGM2336. EUR/JPY range, on Wednesday, has been 131.80-99

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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